Forefront Tech Holdings Acquisition Corp is a blank check company registered as a Cayman Islands exempted company on November 3, 2025. The purpose of the establishment of the company is to merge, merge, exchange shares, acquire assets, purchase shares, reorganize or similar business combination with one or more businesses. 

According to the 15-minute chart of Forefront Tech, a significant development has occurred with the crossover of the short-term moving average (SMA20) from a downward to an upward trend. This shift in market sentiment indicates a change in investor attitudes, as buyers have taken control and are driving the price upward in the near-term.

Forefront Tech

Forefront Tech's 15min chart triggers SMA20 Turn Upward.

Zetrix AI Bhd, a Malaysian digital infrastructure provider, has outlined plans to maintain an 85% stake in its U.S.-listed artificial intelligence unit following its <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">anticipated Nasdaq listing by</a> the end of 2026. The company is pursuing a reverse merger with Forefront Tech Holdings Acquisition Corp (FTHAC), a recently listed SPAC on Nasdaq, to <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">facilitate the listing</a>. The move aligns with Zetrix’s broader strategy to <a href="https://sg.finance.yahoo.com/news/malaysias-zetrix-raises-funds-plans-232616147.html">expand its AI and blockchain-based</a> digital public infrastructure across Malaysia, Southeast Asia, and other emerging markets. The company has already secured a $40 million equity investment from the World Bank’s International Finance Corporation (IFC), which will <a href="https://sg.finance.yahoo.com/news/malaysias-zetrix-raises-funds-plans-232616147.html">support blockchain-based services and AI-enabled</a> solutions. Zetrix’s AI unit, AI Foundation Lab, is expected to leverage the listing to <a href="https://sg.finance.yahoo.com/news/malaysias-zetrix-raises-funds-plans-232616147.html">accelerate global expansion and strengthen</a> its position in cross-border digital services. The company’s controlling shareholder, Group Managing Director Wong Thean Soon, holds a <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">combined 29.7% stake in</a> Zetrix AI Bhd through direct and indirect ownership. The proposed SPAC merger, if finalized, would provide Zetrix with a streamlined path to Nasdaq, similar to <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">the route taken by Grab</a> in 2021. The memorandum of understanding with FTHAC remains non-binding, with a <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">180-day exclusivity period for</a> further discussions.<img src="https://cdn.ainvest.com/aigc/hxcmp/images/compress-1cb907aa76ad1002.png" alt="Zetrix AI Group managing director: aim to hold 85% stake in US unit post listing">

Zetrix AI Group managing director: aim to hold 85% stake in US unit post listing

Zetrix AI Bhd, a Malaysian digital infrastructure provider, is exploring the possibility of listing its artificial intelligence and blockchain units on Nasdaq. The company’s group managing director, Wong Thean Soon, stated that the AI Foundation Lab unit is <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">targeting a listing by</a> the end of 2026. This follows a recent memorandum of understanding (MoU) signed with Forefront Tech Holdings Acquisition Corp (FTHAC), a <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">special purpose acquisition company (SPAC)</a> listed on Nasdaq. The collaboration could facilitate a reverse merger, offering Zetrix a backdoor route to a U.S. listing.Zetrix has also secured a $40 million equity investment from the International Finance Corporation (IFC), part of the World Bank Group, to <a href="https://sg.finance.yahoo.com/news/malaysias-zetrix-raises-funds-plans-232616147.html">expand digital infrastructure across</a> Malaysia and other emerging markets. The funding will support initiatives such as the national digital identity system and blockchain service network. The company reported strong first-quarter results for 2026, with <a href="https://www.thestar.com.my/business/business-news/2026/06/03/zetrix-ai-nasdaq-bid-heats-up-with-spac-partnership">net profit rising to</a> RM271.33 million and revenue reaching RM386.3 million. The proposed Nasdaq listing is expected to further enhance Zetrix’s global visibility and access to capital.<img src="https://cdn.ainvest.com/aigc/hxcmp/images/compress-1cb9075bc36d1001.png" alt="Malaysia's Zetrix AI Group managing director: mulling AI, blockchain unit listing on Nasdaq this year">

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